May 2, 2012

Cree SR Series LED Architectural Downlight Breaks Payback and Performance Barriers

New LED Downlight Unites Timeless Aesthetics with Exceptional Color Quality
DURHAM, N.C. --  LED lighting leader Cree, Inc. (Nasdaq: CREE) introduces a six-inch LED architectural luminaire, extending its family of the world’s most efficient downlights.  Featuring modern design, high color quality and double the efficacy of fluorescent technology, the revolutionary SR Series LED Architectural Downlight uses 85 percent less energy and is designed to last up to 30 times longer than comparable incandescent lighting.  Priced at par with incumbent fluorescent architectural downlights, the new SR Series provides instant payback while delivering breakthrough performance.

Increasingly strict energy codes and LEED certification for buildings are significantly decreasing the energy density (measured in watts per square foot) that can be used for lighting. These stringent codes often restrict lighting options, which can compromise the overall aesthetics of a building’s design. The SR Series offers significant opportunities to reduce power consumption and operating expenses for end-users, while providing exceptional aesthetic qualities.

“With the SR Series, the high quality LED light you expect from Cree comes in a package that you would expect from an architectural-grade lighting manufacturer and at a price point consistent with the industry,” said Leah Robinson, lighting designer at Affiliated Engineers, Inc. “Plus, its high efficacy and color consistency allows designers to put more thought into the details of their design and feel confident in the quality of their downlighting solutions.” 

The SR Series introduces the new, innovative Cree Light Source-Reflector Unity™ Optical system. Specifically designed with the end application in mind, the reflectors virtually eliminate glare and distracting optical reflections for projects that require the most refined aperture appearance and brightness control. Featuring award-winning Cree TrueWhite® Technology, the SR Series delivers industry-leading color quality and specifically tuned color points (3000K, 3500K and 4000K). The downlights deliver light with a CRI >90 and are designed to last at least 75,000 hours and feature a five-year warranty.

“The SR6 is the industry’s best downlight and extends Cree’s leadership in LED-based indoor lighting,” said Christopher Ruud, vice president global sales, Cree lighting. “It offers superior efficacy, improved color quality and exceptional aperture aesthetics, all for the same price as a CFL equivalent.”

Cree SR Series LED Architectural Downlight is sold through Cree lighting sales channels with sample quantities targeted for availability in June 2012. For additional information, please visit www.cree.com/srseries. The SR Series will also be demonstrated at Cree’s lighting booth #3008 at Lightfair International in Las Vegas, May 9-11.

About Cree

Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor products for power and radio-frequency (RF) applications.

Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.

For additional product and company information, please refer to www.CreeLEDLighting.com. To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.com.

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk that we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk that actual savings will vary from expectations, customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 26, 2011, and subsequent filings.

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Cree®, Cree TrueWhite®, and TrueWhite® are registered trademarks and Light Source-Reflector Unity™ is a trademark of Cree, Inc.